Freeport: The Revolution Will be Fractionalized
This episode of Indivisible takes us on a journey to discover Freeport, a new platform that is bringing fine art ownership to Ethereum by using tokens to represent ownership shares. Freeport plans to acquire and offer fractionalized ownership shares in famous works of contemporary art, starting with four pieces from Andy Warhol. Freeport envisions a new form of ownership that allows for multiple individuals to participate in the experience of owning fine art and other real-world assets by using the coordination function of blockchain technology. Under SEC approval, ownership shares will be sold and held by buyers in the form of Ethereum-backed tokens. In the future, these interests will also be open to trade on a secondary market and leverage in connection with the powerful and permission-less Defi ecosystem. Freeport is both making a cutting-edge Defi play to bring the value of real world assets on-chain and represents a movement towards democratizing the experience of owning blue chip fine art. These are all themes that you will hear Freeport’s CEO Colin Johnson discuss on this episode in greater detail. The story also features a breakdown of Freeport’s SEC gambit with company lawyer Marck Roszak — which Colin hopes can provide a helpful guide to other crypto companies looking to follow suit — and an inside look at Warhol as an artist with the fabulous Jane Holzer. Jane was a member of Andy’s inner circle of muses and friends who were dubbed “Warhol Superstars” at the time. Today, she is one of the top Warhol collectors in the world, and the first four Warhols that Freeport will be putting on offer were sourced directly from her collection. Enjoy. _____________